TBI Corn Limited Considered and approved the incorporation of Wholly owned subsidiary company of the Company subject to compliance of applicable laws. . Name of Proposed Company: Sustainable Agrochem Industries Private Limited or such other name as decided by the Board and approved by the authorities.

Reason: To explore opportunities - which are hitherto not ventured into by the parent company - in grain processing. The subsidiary will invest directly or through partnership(s) in new age and higher value products obtained using primarily corn and possibly other agricultural produces. Not estimated the quantitative effects of the same, however the same will benefit in Revenue Growth on consolidated basis.

Qualitative Effects will be Market Positioning, Innovation and Expertise etc. There will be no special benefits to promoter/promoter group/group companies from the above.